The global bio-plasticizers market exhibited moderate during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
Bio-plasticizers refer to biologically derived additives used for improving the flexibility, softness, texture, functional properties and volatility of plasticized polymers. Some of the commonly used bio-plasticizers include epoxidized plant oils, cardanol, isosorbide esters and citrates. They are derived from vegetable raw materials, such as soybean, palm, castor oil, citrates, stearic acid, starch, biomass, agricultural products and waste materials. In comparison to the traditionally used phthalates, bio-plasticizers are non-toxic, environment-friendly, resistant to leaching, miscible and highly cost-effective. As a result, they are extensively used for the manufacturing of polyvinyl chloride (PVC) cables and resins, wire jackets, cables, food packaging material, medical equipment and automobile components.
Bio-plasticizers Market Trends:
- A significant increase in the demand for PVC products across the globe is one of the key factors driving the market growth. Bio-plasticizers are widely used in the manufacturing of PVC products to enhance the stability, safety and effectiveness of flexible sheets and films, coated fabrics and electrical components. Moreover, the imposition of a ban on the use of phthalate-based plasticizers to produce consumer goods, food packaging materials and medical devices is providing a thrust to the market growth. In line with this, the widespread adoption of bio-plasticizers in construction materials is also contributing to the growth of the market. Bio-plasticizers aid in reducing the water requirement of the concrete and increasing the functional stability of other building materials. They are also highly effective in thermo-insulation panels, architectural molds and sculptures that require high-quality adhesives and sealants. Additionally, the development of fast-acting bio-plasticizers using rapidly renewable plant-based feedstock with enhanced productivity, minimal defects and enhanced biodegradability, are favoring the market growth. Other factors, including rising environmental consciousness among the masses, along with the implementation of favorable government policies promoting sustainable development, are anticipated to drive the market toward growth.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global bio-plasticizers market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product and application.
Breakup by Product:
- Epoxidized Soybean Oil (ESBO)
- Castor Oil-Based Plasticizers
- Succinic Acid
Breakup by Application:
- Packaging Materials
- Consumer Goods
- Automotive and Transport
- Building and Construction
- Agriculture and Horticulture
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Avient Corporation, BASF SE, DIC Corporation, Dow Inc., DuPont de Nemours Inc., Emery Oleochemicals LLC, Evonik Industries AG, Lanxess AG, Matrica S.p.A., OQ Chemicals GmbH, Roquette Freres and Solvay S.A. Key Questions Answered in This Report:
- How has the global bio-plasticizers market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global bio-plasticizers market?
- What are the key regional markets?
- What is the breakup of the market based on the product?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global bio-plasticizers market and who are the key players?
- What is the degree of competition in the industry?